Vinva Investment Management Ltd Acquires 216,767 Shares of Monster Beverage Corporation $MNST

Vinva Investment Management Ltd boosted its stake in shares of Monster Beverage Corporation (NASDAQ:MNST) by 85.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 470,233 shares of the company’s stock after acquiring an additional 216,767 shares during the quarter. Monster Beverage comprises about 0.8% of Vinva Investment Management Ltd’s investment portfolio, making the stock its 16th biggest position. Vinva Investment Management Ltd’s holdings in Monster Beverage were worth $29,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of MNST. Employees Retirement System of Texas purchased a new stake in shares of Monster Beverage during the second quarter valued at $68,256,000. Choreo LLC lifted its position in shares of Monster Beverage by 8.6% during the second quarter. Choreo LLC now owns 22,323 shares of the company’s stock valued at $1,398,000 after buying an additional 1,761 shares during the last quarter. Northwest & Ethical Investments L.P. acquired a new stake in Monster Beverage in the second quarter valued at approximately $6,281,000. Russell Investments Group Ltd. boosted its position in shares of Monster Beverage by 31.8% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,942,695 shares of the company’s stock worth $121,640,000 after purchasing an additional 468,473 shares in the last quarter. Finally, Inceptionr LLC purchased a new stake in shares of Monster Beverage during the second quarter worth about $332,000. 72.36% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Guy Carling sold 38,438 shares of the stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $71.33, for a total value of $2,741,782.54. Following the completion of the sale, the insider directly owned 21,993 shares in the company, valued at $1,568,760.69. This represents a 63.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 8.30% of the stock is owned by corporate insiders.

Monster Beverage Price Performance

NASDAQ:MNST opened at $75.04 on Thursday. The company has a 50 day moving average price of $68.79 and a 200-day moving average price of $64.61. Monster Beverage Corporation has a 1-year low of $45.70 and a 1-year high of $75.27. The firm has a market cap of $73.32 billion, a price-to-earnings ratio of 46.61, a price-to-earnings-growth ratio of 2.31 and a beta of 0.53.

Monster Beverage (NASDAQ:MNST) last released its quarterly earnings results on Thursday, November 6th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.48 by $0.08. The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.11 billion. Monster Beverage had a net margin of 20.54% and a return on equity of 27.46%. The firm’s revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the business earned $0.41 earnings per share. On average, sell-side analysts anticipate that Monster Beverage Corporation will post 1.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MNST has been the subject of several research analyst reports. Bank of America increased their price objective on shares of Monster Beverage from $75.00 to $77.00 and gave the company a “buy” rating in a research report on Friday, November 7th. JPMorgan Chase & Co. raised their price target on shares of Monster Beverage from $70.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, November 7th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Monster Beverage from $75.00 to $77.00 and gave the stock a “buy” rating in a research note on Friday, November 7th. The Goldman Sachs Group upped their target price on Monster Beverage from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Finally, Roth Capital restated a “neutral” rating and issued a $60.00 target price (up previously from $56.00) on shares of Monster Beverage in a research note on Wednesday, August 13th. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Monster Beverage has a consensus rating of “Moderate Buy” and a consensus price target of $69.62.

About Monster Beverage

Monster Beverage Corporation, through its subsidiaries, engages in development, marketing, sale, and distribution of energy drink beverages and concentrates in the United States and internationally. The company operates through three segments: Monster Energy Drinks, Strategic Brands, Alcohol Brands, and Other.